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jenny_rebekka
Jan 9, 2017 4:33 PM

Double Bottom Bounce On Fossil Group $FOSL Coming... Long

Fossil Group, Inc.NASDAQ

Description

Shares of Fossil Group Inc (NASDAQ:FOSL) have been caught, like every other brick and mortar retail company in some heavy selling pressure. Sales appear to be in a continual spiral as shoppers move online. Sentiment is overly bearish which is why I am looking for a long trade. Stocks like Sears Holdings and J.C. Penney have all been hammered. However, aggressive investors may have a swing trade opportunity on the horizon by buying shares of Fossil Group Inc at a double bottom price of $23.25. There will likely be a hard technical bounce here as investors buy the beaten stock. The upside is is possibly as high as $30, but investors should use a trailing stop as soon as they are 10% in the money. Keep a tight stock and exit if Fossil Group Inc closes below $23.00.

See my trades here: verifiedinvesting.com/JennyRebekka
Comments
manarh
it sounds pretty wise, if it did no go further down below 23.24
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